For emini trading systems the opening swing is KEY.
All the emini trading systems that emini traders use for day trading emini futures take into account the opening swing or opening range.
In the opening range trading system that we talked about, we used the range of the First minute of trading. We can improve this and determine the opening range by ourselves with more certainty, than if we take the first minute of trading (which can also perfectly be done).Determining the opening swing by ourselves will make our emini trading systems more efficient.
Since the opening range or opening swing is defined by emini traders as: The range in price caused by the filling of all market orders placed before the opening, as well as any stop orders that are elected on the open.
Some emini traders that use emini systems are under the misconception that the opening range is a length of time, like 30 seconds or a minute. That is not totally correct. The opening range lasts until all the opening orders are filled. Getting the opening range in the past was not easy since you would have to call your broker to see if it is available.
Now my friend…That was the "ice age" of trading. Since electronic trading is here to stay with us, we can find the opening range in a candlestick chart (Thank God) and use our emini trading systems fast.
This opening range or opening swing can be found by checking out the following:
The opening range or swing in emini trading systems:
Determining the Opening swing (or opening range) is key for all emini trading systems. The opening range or swing usually serves as support or resistance for the developing (or On course) market activity of the day.
Now you can move on an explore another strategy:
The Value Area as a commodity trading system
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